Cost of living in New River research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means New River is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Arizona, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in New River is 115, with 100 being the average.
The cost of living index in New River is 1.1x higher than the national average.
New River ranks as the #79 cheapest in Arizona out of 94.
New River ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in New River is $445,800.
The median income in New River is $110,257.
According to the most recent data on the cost of living, New River has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Arizona, New River has a cost of living index that's 1.1x higher than Arizona's index of 107.
The standard of living in New River ranks as #79 most affordable out of the 94 places we measured in Arizona. By definition, that implies New River ranks as the #15 most expensive place in the Grand Canyon State.
For more reading on life in New River, check out:
Six factors go into calculating the cost of living index in New River. Here is how it fairs on each of the criteria:
The Services index in New River is 86.
The Groceries index in New River is 96.
The Health index in New River is 77.
The Housing index in New River is 151.
The Transportation index in New River is 109.
The Utilities index in New River is 130.
|Living Expense||New River||Arizona||National Average|
Housing swings affordability the most between places in Arizona, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in New River is $445,800.
The Median Rent in New River is $1,655.
The Median Income in New River is $110,257.
The Home Value To Income in New River is 4.0x.
The Rent To Monthly Income in New River is 0.18x.
|Statistic||New River||Arizona||United States|
|Median Home Value||$445,800||$265,600||$244,900|
|Home Value To Income||4.0x||4.0x||3.5x|
|Rent To Monthly Income||0.18x||0.21x||0.2x|
The cost of living varies in the cities and towns around New River. Here's a quick look at the cost of living in the most populous nearby places:
Phoenix, AZ has a cost of living index of 96, 0.8x New River.
Chandler, AZ has a cost of living index of 107, 0.9x New River.
Gilbert, AZ has a cost of living index of 113, 1.0x New River.
|City||Population||Cost Of Living||Vs. New River|
|Santa Cruz, CA||62,714||186||1.6x|
|Fountain Hills, AZ||23,639||124||1.1x|
|Sun Lakes, AZ||13,912||109||0.9x|